With a little planning ahead of time, purchasing a home isn't very complicated, but the event is stressful for a lot of people.
I like to supply buyers with a road map of the entire deal so they understand exactly what they can expect.
These are my nine steps to buying a home.
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When you're ready to get started, simply contact me here or send e-mail to seelmanre@aol.com. I'm happy to answer questions you have regarding this information.
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Step 1 – Prepare to purchase a home
Prior to beginning your home search, there are several things you'll want to take into account.
When you begin your search, you'll want to make a list of items you need, get an idea of what neighborhoods you'd like to live in, and begin planning your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Speak with a real estate agent
This is where Seelman Real Estate comes in.
I'd like to schedule a time to get together with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the ORLANDO area.
I can also help you facilitate the loan process.
I partner with some of ORLANDO's best mortgage professionals, so you can rest assured that you're in great hands.
They'll help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
Following our initial meeting, I'll begin searching for available homes on the market that are a good fit for you.
I'll research many of the homes and remove the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
As we tour homes, I'll call attention to good features and bad ones. And I'll ask you to point out what things you like and don't like.
It's widely common for buyers to change their must-have list as we view homes and some features become far more crucial than others.
If that's the situation, I'll search all the listings once again and trim it down to the home you've been wishing for.
Step 4 – Get a grasp of the market
An agent's understanding of the ORLANDO housing market is an essential element in your home search. And I assure you I'm mindful of all the neighborhoods and schools, and I can let you know what neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for thoughtful analysis.
When we tour houses, I'll make sure to communicate when the seller's asking price has room for negotiation and when I think the house is "priced to sell."
Every REALTOR® in ORLANDO will claim to comprehend the housing market, but take note, and make sure you ask your agent plenty of questions.
If things don't add up, just call me at 407-909-8866 or e-mail me at seelmanre@aol.com, and I'd be more than happy to answer any questions you may have. My knowledge of the market will keep you a step ahead throughout the entire process.
Step 5 – Find your dream home
I'm sure we'll find your dream home in the ORLANDO area, and when we do, I'll thoroughly create your home purchase offer. The offer will be made exactly to your needs. Whenever necessary, I never forget to make contracts contingent upon items like obtaining financing and the results of the home inspection.
When turning in your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property. The amount is often applied to the cost of closing. If the offer is accepted by the seller, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts don't close on the first offer. It's really common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a large role in how aggressively we negotiate the contract.
We'll also work within your budget. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Secure a loan
Once the deal is finished, you'll start working with your lender to close the loan.
If you've been pre-qualified, this won't take very long at all. However, you'll want to keep in close contact with your mortgage lender.
And I'll manage all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Good Faith Estimate (GFE) detailing closing costs within three days of accepting your application. You'll get a Good Faith Estimate (GFE) detailing your closing costs from your lender within three days of taking your loan application.
This estimate rests on the loan amount. RESPA requirements order that it has to include all closing costs and be within a tight range of accuracy, and I'll study the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This will most likely take place at a title company or escrow office and will probably be a smooth and pleasant occurrence.
Step 9 – Move in
Success! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, make sure you contact me at 407-909-8866 or send me an e-mail.
